Tuesday, July 12, 2011

Vensure FCU Closed

The National Credit Union Administration (NCUA) liquidated Vensure Federal Credit Union of Mesa, Arizona. NCUA placed the credit union into conservatorship on April 15 of this year and made the decision to close Vensure FCU after determining the credit union was insolvent and has no prospects for restoring viable operations. At the time of liquidation the credit union served 140 members and had deposits of approximately $8.1 million.

Vensure FCU is the twelfth federally-insured credit union liquidation in 2011.

Read the press release.
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1 comment:

  1. GeorgeJuly 13, 2011 at 5:51 PM

    It's interesting how quiet the NCUA is on the cause of the liquidation. The CU Journal has many more interesting details @ http://www.cujournal.com/dailybriefing/13_601/-1008527-1.html
    Seems like the CU was getting the vast majority of its income processing poker bets.

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